TSSI vs VXZ: Correlation
Measured on weekly returns over the past three years, TSS, Inc. (TSSI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TSSI and VXZ?
On 3 years of weekly data the TSSI/VXZ correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.37). The 5-year figure is -0.29, and annualized covariance runs at -1248.2 %².
Among the 12 assets we track against TSSI, VXZ sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with VXZ ahead by 29.9 points (-46.0% versus -16.1%). Note the risk asymmetry: TSSI runs 5.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
TSSI vs VXZ: side by side
| TSSI (TSS, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -46.0% | -16.1% |
| 5-year return | +1305.0% | -53.1% |
| Volatility (ann.) | 133.4% | 25.6% |
| Beta vs S&P 500 | 3.46 | -1.31 |
| Max drawdown (3Y) | -77.7% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TSSI | VXZ |
|---|---|---|
| 2022 | +24.4% | +0.5% |
| 2023 | -51.8% | -44.0% |
| 2024 | +4292.6% | -12.7% |
| 2025 | -40.4% | +5.7% |
| 2026 | +19.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TSSI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.37, TSSI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TSSI and VXZ?
The TSSI/VXZ correlation stands at -0.37 on a 3-year window (1 year: -0.25, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TSSI?
Yes. With a correlation of -0.37, TSSI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tssi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tssi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TSSI correlations · VXZ correlations
